Boynton Bay Preservation LLC Affiliate Of The Related Group Acquires Auburn Communities Senior Housing In Boynton Beach For $48M
1785 Northeast 4th Street, Boynton Beach, Florida 33435, United States
$48,000,000
Units
240
Asset Type
—
Closing
Jul 22, 2022
About this deal
AI
Boynton Bay Preservation LLC, an affiliate of the Related Group, has acquired a senior housing property in Boynton Beach, Florida. The property, located at 1785 NE 4th Street, spans an impressive 2.4 acres in the market. The transaction was facilitated by Brian Hinners of Auburn Communities.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $48,000,000
- Units: 240
- Price Per Unit: $200,000
- Buyer: Boynton Bay Preservation LLC (Affiliate of the Related Group)
- Seller: Auburn Communities - Brian Hinners
- Lender: Keybank
The successful acquisition showcases Boynton Bay Preservation LLC's strong position in adding senior housing assets to its portfolio. Brian Hinners, representing Auburn Communities, played a crucial role in facilitating the transaction. Keybank provided financing for the deal.
Players
Boynton Beach CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93